In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J. F. Halley & Son Limited for the year ended 31 March 2025, which comprise the balance sheet, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the board of directors of J. F. Halley & Son Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of J. F. Halley & Son Limited and state those matters that we have agreed to state to the board of directors of J. F. Halley & Son Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J. F. Halley & Son Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that J. F. Halley & Son Limited has kept adequate accounting records and to prepare statutory financial statements that comply with the requirements of the Companies Act 2006. You consider that J. F. Halley & Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J. F. Halley & Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

During the year the Director had a loan account with the company. At the balance sheet date, the amount owed to the company was £38,396 (2024: £50,804). The loan is interest free and repayable on demand.

The average number of persons, including directors, employed by the company during the year was as follows:

The company transitioned from FRS 102 1A to FRS 105 in the year to 31 March 2025. As part of the transition from FRS 102 Section 1A to FRS 105, a key accounting policy change relates to the treatment of deferred tax.

Under FRS 102, deferred tax was recognised in respect of timing differences between the accounting and tax treatment of income and expenses. This included deferred tax liabilities on accelerated capital allowances and deferred tax assets on losses carried forward or other deductible temporary differences.

FRS 105, which applies to micro-entities, does not permit the recognition of deferred tax. As a result, all previously recognised deferred tax balances have been eliminated on transition.

This adjustment has been reflected in the opening balance sheet at the transition date, with the corresponding entry taken to retained earnings. The impact is a one-off adjustment that aligns the financial statements with the requirements of FRS 105 and does not affect the company’s tax position or cash flows.

J. F. Halley & Son Limited is a private company limited by shares incorporated in Scotland. The registered office is 69 King Street, CRIEFF, PH7 3HB.

For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime', and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true